Equipped Nail
For Sale
$200,000
6932 Market Street, Wilmington, NC 28411
Commercial Sale, Wilmington, NC
Property Size1,181 SF
Lot Size8.74 Acres
Price / SF$169.35
Days on Market283
Property Features for 6932 Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RB
Parking features
Parking Lot
Subdivision
Not In Subdivision
Lot features
Corner Lot
Directions
Heading south on Highway 17 into Wilmington, take exit 23 for NC 417 S/Military Cutoff Rd then use the middle lane to continue on Military cutoff Rd. Turn right onto Gordon Rd, then in 500 feet turn right onto Market. Business will be in the Food Lion Shopping Center ''Q&N Nails''.
Standard status
Active
APN
R04400-005-044-000
Size
1,181 SF
Lot size
8.74 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT MELBA FAYE HEFELFINGER DIVISION
Tax Annual Amount
98028
Legal Description
PT MELBA FAYE HEFELFINGER DIVISION
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1997
Number of units
1
Flooring type
Tile
Building materials
Brick
Listing Agency:
Teresa Batts Real Estate, LLC
(910) 328-0613
Listed By:
Jordan Lanier Barkman · License #284136
(910) 520-3715
Added: Nov 25, 2025
Changed: Aug 20
Last Checked: Sep 4 at 12:06PM
MLS# 100542987
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,181-square-foot nail salon includes eight pedicure spa chairs, eight manicure workstations, and a separate room arranged for massage and facial services. The interior also provides a reception area, polish display fixtures, storage, a bathroom, tile flooring, and electric heating. Equipment and salon inventory are included, supporting continued use as a spa and wellness business.
The property is located at 6932 Market Street in Wilmington, at the intersection of Market Street and Military Cutoff Drive. It offers corner positioning, shared parking with national chain businesses, and access to public transit. The building was constructed in 1997, features brick construction, and is situated on an 8.74-acre parcel zoned RB.
The property is located at 6932 Market Street in Wilmington, at the intersection of Market Street and Military Cutoff Drive. It offers corner positioning, shared parking with national chain businesses, and access to public transit. The building was constructed in 1997, features brick construction, and is situated on an 8.74-acre parcel zoned RB.
Key Highlights
- 1,181‑square‑foot nail salon with eight pedicure spa chairs and eight manicure workstations
- Separate massage and facial room with treatment bed
- Reception area, polish displays, storage room, bathroom, and tile flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$11,657
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.83%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$233,140
$233.1K
Cap Rate 7%
$166,529
$166.5K
Cap Rate 9%
$129,522
$129.5K
Market Conditions
NOI Build-Up for 1,181 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$18.6K $15.72/SF
− Vacancy
−$1.9K −$1.62/SF
EGI
$16.7K $14.10/SF
− OpEx
−$5.0K −$4.23/SF
NOI
$11.7K $9.87/SF
Area
Wilmington, NC
Vacancy
10.30%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$233,140
Cap Rate 7%
$166,529
Cap Rate 9%
$129,522
Alternative Uses
Best Use
Retail
$166.5K
$145.7K – $194.3K
NOI $11,657 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$14.46M
$12.65M – $16.87M
NOI $1,012,246 @ 7.0% cap · market cap 506.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 28411, NC
37,834
Population
16,978
Households
2.2
Avg Household Size
41
Median Age
53%
College-Educated
96%
High-School Grad
41.2 sq mi
ZIP Area
918
Density / Sq Mi
$94,200
Median Household Income
$49,008
Median Earnings
$1,685
Median Rent
$363,600
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Configured spa and wellness space with treatment areas, customer reception, storage, and on-site parking.
Where is this spa & wellness property located?
The property is located at 6932 Market Street Wilmington, NC.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: 1,181‑square‑foot nail salon with eight pedicure spa chairs and eight manicure workstations; Separate massage and facial room with treatment bed; Reception area, polish displays, storage room, bathroom, and tile flooring
